Willscot Mobile Mini Holdings Corp A (WSC)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,395,720 | 2,364,770 | 2,142,620 | 1,894,900 | 1,367,640 |
| Total current assets | US$ in thousands | 557,510 | 569,096 | 521,041 | 483,040 | 419,492 |
| Total current liabilities | US$ in thousands | 585,008 | 562,020 | 561,942 | 517,645 | 448,667 |
| Working capital turnover | — | 334.20 | — | — | — |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,395,720K ÷ ($557,510K – $585,008K)
= —
The working capital turnover ratio for Willscot Mobile Mini Holdings Corp A exhibits significant variation over the observed period. For the fiscal years ending December 31, 2020, through December 31, 2022, the ratio is reported as undefined or not available (\u2014\u2014), indicating that either the company's working capital was insufficient to calculate this ratio or the relevant data was not reported during these periods.
A notable change occurs at the fiscal year ending December 31, 2023, when the ratio is reported as 334.20. This substantial figure signifies that, in 2023, the company was able to generate a considerable amount of revenue relative to its working capital. A high working capital turnover ratio typically suggests efficient utilization of working capital to support sales activities, implying strong operational efficiency or capital management in that year.
The absence of data for subsequent periods (December 31, 2024) further emphasizes that meaningful year-over-year trend analysis is limited to 2023. Overall, the transition from undefined ratios in earlier years to a notably high ratio in 2023 suggests an improvement in working capital efficiency during that period. Such a spike warrants further investigation into the company's operational changes, asset management practices, or shifts in working capital components that could have contributed to this performance.